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WorksheetsW!SE Consumer Skills: Introduction, Borrowing & Autos
Total questions: 18
Worksheet time: 7mins
In economics, demand is...
The amount ordered by a customer
the amount buyers are willing and able to buy
An advertising term
Businesses will produce what customers demand. This is called...
Consumer Demand
Consumer
Choice
Consumer Sovereignty
A reward or benefit that motivates people to do something is called....
An incentive
A prize
An advantage
The supply and demand for a product determines its...
Popularity
Price
Production
Revenue ($ Taken In) - Costs ($ Spent) = ________
Profit
Balance
Total
Consumer credit would be used for all of the following but...
Buying groceries
Buying a home
Buying clothes
Buying a vacation
Being a smart comsumer involves...
Being organized with paperwork
Managing money effectively
Researching products and services
Checking statements and receipts for accuracy
All are correct
An example to closed-end credit would be
A credit card
A charge card
A mortgage
A debit card
Unsecured loans don't have...
Collateral
Good Interest Rates
Installment Payments
If you co-sign on a loan, the lender can
decide to come after just you to collect
the money upon default.
True
False
An example of open-ended credit would be...
A car loan
A student loan
An installment laon
A credit card
The longer the term of your loan, you will pay...
More interest
Less interest
A warranty relates to...
Advertising regarding the quality of a product
Guarantees made regarding the return, replacement or refund of a product
Benefits associated with purchasing the product
A dancing gorilla
Which is NOT true about implied warranties?
Are not in writing
but enforeable
in court.
Include that the seller can legally sell the product
Include that the product will be able to be used for uses intended
Include Dealership
Used-Car Warranties
When buying a car, MSRP relates to...
The price offered by the buyer
The loan amount the buyer qualifies for
The amount the car maker
thinks the car
should sell for
The amount the dealership offers to sell the car for
Cash allowences are...
Available to all car buyers
Available for all types of vehicles
Are promotional incentives to purchase
Are used for trade-ins
An "Extended Warranty" is...
An extention of the product's original warranty
Prohibited by law
A service contract
A benefit to leasing a car is...
It is a "rent to own" option for buyers
Leasing payments are cheaper than purchase payments
Mileage emay be limited
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